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- Published: Monday, 04 March 2019 14:11
Landlords who list their rental properties at below market rates as affordable housing with HomeGround Real Estate Sydney can benefit from a tax ruling secured by Bridge Housing.
Bridge CEO John Nicolades explains how it works in this short video.
The following example illustrates the way landlords need not be out of pocket for offering their rental properties at a market discount by claiming the gap in rent as a tax deduction.
Say your property is worth $600 a week on the open market but you decide you only need $500 a week for it. You decide to rent out your property for a year.
At the end of the financial year, Bridge Housing provides you with a donation receipt for $5200, or 52 times the $100 a week in forgone rent.
As a registered charity, we are able to claim this difference in rent as a donation for tax purposes.
Bridge Housing established HomeGround Real Estate Sydney as a not-for-profit real estate agency in April 2018 to help end homelessness.